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John F. DeFelice, Associate Professor of History at University of Maine at Presque Isle, at 7:41 am EST on February 14, 2007

Call me skeptic

Please. The Bush Administration proposed much of the same lender cuts in their last budget, and the company’s stock went down for a few days after the budget came out. But because the GOP Congress couldn’t manage to do anything sensible, nothing happened.

It was terribly likely that the Bushies were going to propose the same cuts because they don’t have any new ideas any more.

Considering that there is a public law requiring the Administration to present it’s budget on that Monday, I wonder how the evil Sallie Mae could have figured that out.

It’s great politics, but if Frank and Miller don’t even have that merest understanding of how the economy works, we’re in for some deep trouble with them at the helm.

Skeptic, at 8:25 am EST on February 14, 2007

Correct

” .. One could reasonably anticipate that the budget was, at best, going to contain a lack of bad news for education lenders ..”

Anticipating negative economic moves with the rise of the Pelosi gang is as easy as predicting what the Harvard/MIT feminist faculty caucus would do to L.A. Summers in a dark, lonely alley.

Another example: the 2008 U.S. presidential election. Voters reject the “higher taxes” candidates and the stock market rises. Almost as certain as death.

C. Bigsby, at 10:45 am EST on February 14, 2007

Sallie Mae stock deal

Well, imagine that...insider trading by the CEO of a major corporation. The biggest problem with unfettered capitalism has always been greed. American society needs to re-evaluate how we fund such important endeavors as education, and health care. Sure, we need the efficiencies provided by capitalism, but we do not need the terrible inequities that often accompany this structure..like the Al Lord stock deal. As I’ve written before, Mr. Lord made over $41 Million in his last year at Sallie Mae. This came directly from the pockets of students and from the taxpaying public.

If the feds can prove that Mr. Lord had prior knowledge of these regulatory changes, then he should be forced to give up whatever he made on these stock options. Of course, that’ll never happen, which is why “for profit” companies should not be permitted to run student loan companies, colleges, or hospitals.

feudi pandola, at 9:05 am EST on February 15, 2007

What they don’t clearly tell you when......

I started medical school eager to make a difference and save lives, help people and society, give back.......instaead, I ended up with double plus my student loans due to deferment during residency, financial hardship during a job change and divorce, and all for what? So I can panic and struggle to make ends meet while “helping” others feel better?? I feel worse daily watching the interest compound on my loans and seeing them increase, paying and not denting them, knowing I will have them ALL my LIFE and I will never know freedom of choice to structure my career to suit what I love and help those in need.

They don’t tell you that part.....I end up $250,000 in debt to Sallie Mae (starting at less than $150,000 — you do what you have to when all you have is yourself to count on), I work and easy 60 hour week, with emotionaly draining patients, in the constraint of the insurance and malpractice threats and grip, and for what? To go through divorce, neglect my own family and life and struggle to make ends meet.....

Thanks Sallie Mae for helping a public servent become more dissilutioned and disheartened every day.

Lynn

Lynn, MD, at 9:15 pm EDT on April 9, 2007